Washington: Commerce and Industry Minister Piyush Goyal has criticised individuals defending China’s economic model, especially those responsible for its increased influence in India. Speaking in Washington on Thursday, Goyal highlighted global concerns over China's opaque and non-transparent economy, emphasising that India suffered due to the influx of substandard Chinese goods under the previous Congress-led government.
“It’s shameful that India allowed Chinese goods to flood the market, harming local manufacturing,” Goyal said. He pointed out that India’s trade deficit with China surged from 1.8 billion dollars in 2004 to 43 billion dollars by 2014 under the Congress government. Goyal also slammed Rahul Gandhi’s recent remarks blaming the current government for not addressing the Chinese manufacturing challenge, linking it to unemployment in India.
The minister defended the Modi government’s efforts to curb Chinese influence, noting that since 2014, the trade deficit with China has grown at a much slower pace. He further stressed that the U.S., like India, is concerned about the dumping of Chinese goods and has imposed extra duties in response.
Goyal also took a swipe at the Congress government for pushing India into the Regional Comprehensive Economic Partnership (RCEP), which he argued would have led to a free-trade agreement with China, further damaging India's manufacturing sector.
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